“Institutional Use of Tese Cryptocurrencies Will Increase Once Rules Are In Place, The Report Said.”, – WRITE: www.coindesk.com
“The Lack of Regulation is One of the Main Impediments to Stablecoin Adoption in the Us and Has Prevented a Broader Institutional Adoption of Stablecoins,” Analysts Led by Mohamed Damak Wrote.
S&P SAID IT EXPECTS ADOPTION TO GROW ONCE REGULATION IS IN PLACE.
Stablecoins are cryptocurrencies whose valve is tied to anOTHER asset, Such as the US dollar or Gold. They Play A Majoor Role in Cryptocurrency Markets and are Also Used for To Transfer Money Internationally.
New Rules Are Coming. The Senate’s Guiding and Establishing National Innovation for Us Stablecoins (Genius) Act Mandates Federal Regulation for Stablecoins with A Market Cap of Over rules. The House of Representatives Stable Act Calls for State Regulation with Any Conditions.
Some USers Are Expectioned to Move from Unregulated to Regulated Stablecoins Once A Framework is in Place, The Report Said, and this Could Alter The Industry Landscape.
“Stablecoins Will Play An IncreASINGly Important Role in on -chain Transactions,” The Authors Wrote, Protecting Users’ Savings From “Local Monetary Instability in Emerging MARKETS,”
Wall Street Bank JPMorgan (JPM) SAID TETHER, WHICH Issues Market Leader USDT, Could Face Challenges from Propossed US StableCoin Regulations, in a report Last Last Week.
Read More: Tether May Have to Sell Some Bitcoin to Comply With US Stablecoin Rules: Jpmorgan
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